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Digital Dollar: Privacy and Accessibility of Electronic Cash

This act introduces a digital version of the U.S. dollar, called e-cash, designed to function like physical cash, ensuring privacy and direct transactions without intermediaries. It aims to improve financial access, especially for digitally excluded individuals, and enable offline payments. The federal government will be required to accept e-cash, and merchants accepting physical cash will also need to accept it.
Key points
Introduction of e-cash: a digital dollar designed to be as private and anonymous as physical cash.
Offline transaction capability: e-cash transactions will be possible without internet access or intermediaries, directly between users.
Privacy protection: transaction data will not be collected or monitored by the government or intermediaries, except as specified by law.
Universal accessibility: e-cash aims to be easily accessible to everyone, including individuals with disabilities, low-income individuals, and those without internet access.
Mandatory acceptance: the federal government will be required to accept e-cash, and businesses accepting physical cash will also need to accept it.
No fees: there will be no fees for holding, receiving, sending, or transacting with e-cash balances.
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Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_7231
Sponsor: Rep. Lynch, Stephen F. [D-MA-8]
Process start date: 2022-03-28
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ECASH Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7231.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-28.

What are the main provisions?

Key points include:

  • Introduction of e-cash: a digital dollar designed to be as private and anonymous as physical cash.
  • Offline transaction capability: e-cash transactions will be possible without internet access or intermediaries, directly between users.
  • Privacy protection: transaction data will not be collected or monitored by the government or intermediaries, except as specified by law.
  • Universal accessibility: e-cash aims to be easily accessible to everyone, including individuals with disabilities, low-income individuals, and those without internet access.
  • Mandatory acceptance: the federal government will be required to accept e-cash, and businesses accepting physical cash will also need to accept it.
  • No fees: there will be no fees for holding, receiving, sending, or transacting with e-cash balances.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lynch, Stephen F. [D-MA-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Informatization